🚨 Ethereum Whale ’7 Siblings’ Dumps Millions as Market Soars – Smart Exit or Missed Mega Rally?

Whales make waves—again. The so-called '7 Siblings' Ethereum wallets just unloaded millions worth of ETH during this week's bullish surge. Was it profit-taking... or panic?

Timing the top? These deep-pocketed players have a history of nailing exits. But with ETH flirting with new yearly highs, skeptics whisper they might've left gains on the table—classic 'weak hands' behavior.

Meanwhile, retail FOMO kicks in. As institutions quietly accumulate, your average crypto bro is now YOLO-ing into leveraged longs. What could go wrong?

Cynical take: Nothing unites whales and minnows like the shared delusion they can outsmart each other.

Other Whale Activity and Market Insights

Another Ethereum whale from the ICO days decided to cash in early Monday, selling off 2,300 ETH for $9.9 million. According to on-chain data, this seller initially snagged 20,000 ETH for just $6,200, which has now increased to a value of $86 million. 

Notably, this wallet has also offloaded some portions in late 2023 and early 2024, hinting at a strategy of gradual profit-taking.

In addition, data from IntoTheBlock, a cryptocurrency analytics platform, shows that 97% of ETH holders are still in the green. When it comes to Ethereum’s relationship with Bitcoin, the correlation is quite low at just 0.02, which suggests independence in the market.

Right now, large holders are at 55% of the total ETH supply. In the past week, large transactions have skyrocketed to $93.78 billion, with net flows hitting $533.8 million.

Also Read: FG Nexus Becomes Major ETH Holder with 47,331 ETH